June 3, 2019Blog Posts

BofA to reissue 4 million cards in rapid contactless push

PaymentsSource

In New York, Boston and San Francisco, Bank of America will force a mass NFC upgrade by mailing new contactless credit and debit cards to all of its consumer card holders in those regions. The surgical contactless strike will cover about 4 million Visa cards — a sharp contrast to the industry standard of replacing cards only as they expire.

“We didn’t want to go with rolling thunder or a dribble of new contactless cards—we wanted to saturate a few markets with NFC, giving us a chance to promote contactless and then thoughtfully measure progress,” said Mark Monaco, Bank of America’s head of enterprise payments.

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